Workflow
南顺(香港)(00411) - 2019 - 中期财报
LAM SOON (HK)LAM SOON (HK)(HK:00411)2019-03-13 08:37

Financial Performance - The Group's interim net profit attributable to shareholders increased by 8.2% from HK$186 million to HK$201 million[15]. - Revenue growth for the Food and Home Care segments was 1.7% year-on-year, rising from HK$2,808 million to HK$2,857 million, with a volume improvement of 4.6%[15]. - Gross profit margin increased from 21.6% to 22.2%, while net profit margin improved to 7%, up by 0.4 percentage points from the previous year[15]. - The Group's revenue for the six months ended 31 December 2018 was HK$2,856,886,000, representing an increase of 1.7% from HK$2,808,108,000 in 2017[40]. - Gross profit for the same period was HK$634,770,000, up 4.6% from HK$606,457,000 in 2017[40]. - Profit for the period increased to HK$201,407,000, a rise of 8.1% compared to HK$186,185,000 in 2017[40]. - Basic earnings per share for the period was HK$0.85, compared to HK$0.79 in the previous year, reflecting a growth of 7.6%[40]. - Reportable segment profit from operations for the same period was HK$267,833, up from HK$251,672 in 2017, indicating an increase of about 6.4%[78]. - The consolidated profit before taxation for the six months ended December 31, 2018, was HK$239,274, compared to HK$230,076 in 2017, showing a growth of about 4%[78]. Cash and Liquidity - The Group's cash balance as of December 31, 2018, was HK$1.29 billion, reflecting an increase of HK$129 million or 11% from six months prior[15]. - The group had a cash balance of HK$1,291 million as of December 31, 2018, up from HK$1,162 million on June 30, 2018, with 68% in RMB, 28% in HK$, and 4% in USD[29]. - For the six months ended December 31, 2018, net cash generated from operating activities was HK$290,332,000, a decrease from HK$353,412,000 in 2017[50]. - Cash and cash equivalents at December 31, 2018, were HK$1,280,646,000, an increase from HK$1,125,824,000 in 2017[50]. - The Group's net current assets increased to HK$1,550,863,000 from HK$1,493,582,000, showing improved liquidity[47]. Investments and Capital Expenditure - The Group invested HK$73 million in capital expenditure during the period, significantly higher than HK$35 million in 2017[36]. - The Group acquired property, plant, and equipment at a cost of HK$71,572,000 for the six months ended December 31, 2018, compared to HK$31,859,000 in 2017, representing an increase of 124%[97]. - As of December 31, 2018, the Group's capital expenditure authorized and contracted for amounted to HK$66,054,000, a decrease from HK$107,391,000 as of June 30, 2018[122]. Dividends - An interim dividend of HK$0.14 per share was declared, totaling approximately HK$34 million, compared to HK$0.13 per share totaling approximately HK$32 million last year[17]. - The interim dividend declared is HK$0.14 per share, totaling approximately HK$34 million, compared to HK$0.13 per share and HK$32 million for the same period last year[21]. - The interim dividend declared for 2018 was HK$0.14 per ordinary share, an increase from HK$0.13 per share in 2017, reflecting a growth of about 7.7%[88]. Segment Performance - The Food Segment recorded a revenue growth of 1% to HK$2,486 million, with an operating profit increase of 8.7% to HK$244 million[18]. - The food segment recorded a revenue growth of 1% to HK$2,486 million, with an operating profit increase of 8.7% to HK$244 million, excluding currency impact, the revenue growth was 3.9%[22]. - The flour core brands achieved a revenue growth of 7% to HK$371 million, with a volume growth of 5%, while the operating profit margin decreased by 1.4 percentage points to 6.4%[26]. - The food segment generated revenue of HK$2,486,157, while the home care segment contributed HK$370,548 for the six months ended December 31, 2018[72]. Financial Position - Total assets as of 31 December 2018 were HK$2,401,022,000, an increase from HK$2,189,710,000 as of 30 June 2018[47]. - Net assets rose to HK$2,243,473,000 from HK$2,170,185,000, indicating a solid financial position[47]. - As of December 31, 2018, total equity was HK$2,243,473,000, an increase from HK$2,082,131,000 in 2017[50]. Accounting Standards and Policies - The interim financial report is unaudited and prepared in accordance with HKAS 34, with the same accounting policies as the 2017/18 annual financial statements[54]. - The Group has adopted HKFRS 9, which impacts the classification of financial assets and measurement of credit losses, effective from July 1, 2018[61]. - The Group's revenue recognition framework has been updated to align with HKFRS 15, replacing previous standards[70]. - The Group's accounting policies have been updated to reflect changes in revenue recognition and credit loss measurement[70]. Taxation - Current tax for Hong Kong Profits Tax decreased to HK$1,936,000 in 2018 from HK$3,392,000 in 2017, a reduction of approximately 43%[84]. - Current tax outside Hong Kong decreased to HK$26,192,000 in 2018 from HK$30,015,000 in 2017, a decrease of about 13%[84]. - Total taxation for the six months ended December 31, 2018, was HK$37,867,000, down from HK$43,891,000 in 2017, representing a decline of approximately 14%[84]. Employee and Management - As of 31 December 2018, the Group had 1,658 employees, with performance bonuses and share options in place to motivate staff[37]. - Staff costs for the six months ended December 31, 2018, totaled HK$192,356, compared to HK$174,316 in 2017, representing an increase of approximately 10.4%[82]. Corporate Governance - The company has complied with the HKEx Code of Corporate Governance Practices during the reporting period[156]. - All directors confirmed compliance with the Model Code for Securities Transactions throughout the period[159].